The CFTC Chair Michael Selig has cautioned that if Congress fails to pass the Clarity Act, regulators may end up writing all the rules for crypto. This warning highlights the potential for regulatory overreach in the absence of clear legislative guidance. The Clarity Act is intended to provide a framework for the regulation of cryptocurrencies, but its stalled progress raises concerns about the role of regulatory bodies in shaping the industry.
Based on reporting from crypto.news.
